AngelMD announced the close of follow-on investments in Saranas, Inc. This is the second AngelMD close for Saranas, as the network continues its approach of maintaining lifelong support for its portfolio companies.
Saranas is a Houston-based company that is developing fast, accurate diagnosis of complications related to vascular access procedures. Over 20 million patients are treated via vascular access each year, and over a million suffer from life-threatening complications that Saranas is helping to solve.
“Saranas is excited to have AngelMD once again participate in our financing round. With AngelMD’s vast physician network and counsel, we aim to deliver a product that has the potential to significantly reduce bleeding complications while also reducing related costs to providers and the healthcare system,” said President and CEO Zaffer Syed. “Since our last round of financing, we have completed design verification and validation activities, continued to build our growing intellectual property portfolio, and submitted a De Novo application to the FDA. With this investment, we are well positioned to initiate a multicenter clinical pilot and extend access to this innovative device to patients in the U.S.”
Saranas originates from the Texas Heart Institute at the Texas Medical Center. The company provides real-time monitoring without radiation, at reduced costs from the status quo.
“We’re proud to play a continuing role in the success of Saranas,” said Dan Parsley, AngelMD President. “Building the world’s largest network of physicians, investors, and cutting-edge medical technology startups places AngelMD in a uniquely advantageous position. Investments like this are the byproduct of having incredible deal flow, minimizing risk for investors, and using the combined knowledge of the best physicians in their respective fields. In this case, our Interventional and General Cardiologists played a large part in evaluating the potential of this device.”
AngelMD member-investors continue to play an integral part in the success stories of companies within the network. By not only investing, but also by evaluating and advising companies, the AngelMD process helps to mitigate risk while increasing potential returns and facilitating better outcomes.
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